enGene (NASDAQ:ENGN) Coverage Initiated by Analysts at HC Wainwright

Analysts at HC Wainwright initiated coverage on shares of enGene (NASDAQ:ENGN) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $25.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 295.57% from the company’s previous close.

ENGN has been the topic of a number of other research reports. JMP Securities restated a “market outperform” rating and issued a $18.00 target price on shares of enGene in a report on Friday, December 6th. Citizens Jmp raised shares of enGene to a “strong-buy” rating in a research report on Monday, November 18th. Raymond James started coverage on shares of enGene in a research report on Wednesday, November 27th. They set an “outperform” rating and a $23.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 target price on shares of enGene in a report on Tuesday, September 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $40.00 price target on shares of enGene in a report on Wednesday, September 11th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $29.78.

enGene Stock Up 6.0 %

enGene stock opened at $6.32 on Monday. The firm has a 50 day moving average price of $8.10 and a two-hundred day moving average price of $7.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 19.52 and a current ratio of 19.52. enGene has a 52-week low of $4.42 and a 52-week high of $18.40. The firm has a market cap of $279.45 million, a price-to-earnings ratio of -10.90 and a beta of -0.78.

enGene (NASDAQ:ENGN) last released its quarterly earnings data on Thursday, December 19th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.06. Equities analysts predict that enGene will post -1.52 EPS for the current year.

Insider Activity

In other news, major shareholder Growth Opportunities F. Forbion purchased 341,332 shares of enGene stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $6.34 per share, for a total transaction of $2,164,044.88. Following the transaction, the insider now directly owns 2,400,791 shares of the company’s stock, valued at approximately $15,221,014.94. This trade represents a 16.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ronald Harold Wilfred Cooper acquired 10,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $5.70 per share, for a total transaction of $57,000.00. Following the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $57,000. This represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 420,965 shares of company stock valued at $2,651,103 over the last quarter. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On enGene

A number of institutional investors have recently added to or reduced their stakes in ENGN. SR One Capital Management LP bought a new stake in shares of enGene during the 2nd quarter valued at about $4,715,000. Franklin Resources Inc. raised its position in shares of enGene by 48.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock valued at $7,854,000 after buying an additional 389,918 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of enGene by 1,410.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock worth $4,376,000 after acquiring an additional 619,100 shares during the last quarter. Logos Global Management LP raised its holdings in shares of enGene by 50.0% during the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after buying an additional 400,000 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of enGene in the 3rd quarter worth approximately $37,000. 64.16% of the stock is currently owned by institutional investors.

About enGene

enGene Holdings Inc, through its subsidiary enGene, Inc, operates as a clinical-stage biotechnology company that develops genetic medicines through the delivery of therapeutics to mucosal tissues and other organs. Its lead product candidate is EG-70 (detalimogene voraplasmid), which is a non-viral immunotherapy to treat non-muscle invasive bladder cancer patients with carcinoma-in-situ (Cis), who are unresponsive to treatment with Bacillus Calmette-Guérin.